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A123 Systems powers Irvine's Fisker
Green automaker signs multiyear battery deal with the Massachusetts-based firm.
By Kristen SchottPublished: January 15, 2010 09:51 AM
Irvine-based Fisker Automotive has signed a multiyear supply contract with A123 Systems, a Massachusetts-based lithium ion battery maker. A123 also plans to invest up to $23 million in cash and stock in the green auto company. The move is expected to further the interests of both firms as they work to develop and produce new technology for plug-in hybrid electric vehicles.
Under the terms of the deal, A123 will produce its advanced battery systems for Fisker's Karma Plug-in Hybrid Electric Vehicle. The batteries are touted as high power, safe and long lasting. These features are key for the Karma, which is expected to have a range of 50 full-electric miles through the A123 batteries. The car will have a full range of 300 miles and an on-board generator that runs through a four-cylinder gas engine.
"Fisker Automotive selected A123 because of the company's ability to meet our performance needs and rapidly scale to our production volume," says CEO Henrik Fisker, who also was a 2009 Hot 25 honoree.
He says the company is "committed" to producing environmentally friendly autos that still offer luxury and high-performance features.
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Under the terms of the deal, A123 will produce its advanced battery systems for Fisker's Karma Plug-in Hybrid Electric Vehicle. The batteries are touted as high power, safe and long lasting. These features are key for the Karma, which is expected to have a range of 50 full-electric miles through the A123 batteries. The car will have a full range of 300 miles and an on-board generator that runs through a four-cylinder gas engine. "Fisker Automotive selected A123 because of the company's ability to meet our performance needs and rapidly scale to our production volume," says CEO Henrik Fisker, who also was a 2009 Hot 25 honoree. He says the company is "committed" to producing environmentally friendly autos that still offer luxury and high-performance features. NEXT PAGE >> Related headlines Seal Beach's Amonix nets $9.5 million in Recovery Act funds Clean Energy will build three airport fueling stations OCTA puts Tustin Mayor Jerry Amante in driver's seat |
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